Ambani’s Jio to make Mumbai trading debut after record US$3.2 billion India IPO
Grey-market premium points to gains of about 22%
Mumbai will host the trading debut of Mukesh Ambani's telecoms and digital unit, Jio Platforms, on Wednesday (Oct 28). This marks the listing of Jio after the company's record US$3.2 billion IPO attracted US$77 billion in bids, making it India's most subscribed offering. With a valuation of up to US$108.3 billion, Jio is backed by Meta and Alphabet’s Google and serves more than 530 million customers. The listing is expected to position Jio as one of India's biggest companies by market capitalisation when trading begins.
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